CentralNic Group plc (LON:CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, announced today that Don Baladasan joins the Board of CentralNic Group plc today as Chief Financial Officer of the Company, returning to the Group that he was Chief Financial Officer of from April 2010 to February 2014, overseeing the financial function at the Group’s IPO in 2013.
Don, a Chartered Management Accountant, has several years’ experience of being Finance Director of AIM listed companies. Over the last five years he has assisted AIM listed businesses in raising £25 million of equity in addition to overseeing a series of acquisitions including reverse takeovers. Don has several years’ experience of integrating internationally acquired companies from a finance, governance and commercial perspective. This experience was gained at Stemcor, an international steel trader which at the time had operations in 46 countries and a turnover in excess of £6bn, where Don was Head of Accounting Development.
Don initially studied Medicine at Guys Hospital before completing a BSc in Economics at CASS Business School. He was then awarded a place on the Financial Times graduate scheme where he trained as a Chartered Management Accountant.
Ben Crawford, CEO of CentralNic Group Plc, said: “We welcome Don back to CentralNic with his wealth of experience from financial expertise to buy & build and risk management. These skills are particularly pertinent as CentralNic prepares to the go through the next stage of its growth. With his previous input and knowledge of CentralNic, he understands both the business and the industry and will be able to contribute from day one.”
Glenn Hayward has chosen to leave his position with the Group to pursue other opportunities. Mr Hayward’s responsibilities included Chief Financial Officer, Board Director and Company Secretary.
Mike Turner, CentralNic’s non-executive Chairman, said: “The Board wishes to thank Glenn for the dedicated service and professionalism he has brought to the business over the past three years and we wish him every future success.”
Ben Crawford, the Company’s CEO, said: “I would like to thank Glenn for his work in helping me to develop the business in recent years and I wish him the very best of luck for the future.”
The information on Donald Ahelan Baladasan required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies is as follows:
Donald Ahelan Baladasan, aged 43, is currently a director of the following companies:
Totally plc
Balmoor Ltd
Optimum Sports Performance Centre Ltd
Mataxis Ltd
Zombit Ltd
About Health Ltd
D4B Ltd
ZoopaChat Ltd
Opes MRF 2013 Ltd
Premier Physical Healthcare Ltd
Mobi Capital Ltd
The Healthcare Property Company
Opes Industries Ltd (in Administration)
In addition, Don has held the following directorships in the past five years:
Classic Leather Ltd
Northern Land Developments Ltd
Foxley Stables Ltd
PureCycle Ltd
Whois Privacy Ltd
GB.com Ltd
TLD Registrar Solutions Ltd
CentralNic Group plc
Oncotherapy Resources Ltd
CareCapital Ltd
Advanced Oncotherapy Ltd
Opes MRF 2013 Ltd
Sebaris Ltd
Mr Baladasan was a director of Opes industries and Opes MRF 2013 Limited which were put into administration on 9th March 2016. The Group of companies had entered in to a loan agreement with Shore Capital for £8.8 million. In February 2016, recycling facilities operated by Opes MRF 2013 Ltd were subject to a fire. This put a halt to operations and business and resulted in the business not being able to generate sufficient cash to meet loan repayments. Shore Capital, appointed an administrator to recover their previous investment of £8.8 million. Opes Industries and Opes MRF 2013 subsequently filed for insolvency and the administration is still on going until 8th March 2018.
